Record Year in 2016 for FINRA Enforcement Activity as Fines Soared

Posted on May 11th, 2017 at 10:37 AM
 Record Year in 2016 for FINRA Enforcement Activity as Fines Soared

From the Desk of Jim Eccleston at Eccleston Law LLC:

2016 was a record year for FINRA enforcement activity. Although the number of total cases decreased compared to the number in 2015, the monetary fines nearly doubled to $176 million.

Overall, there has been a 529% increase in penalties by FINRA since 2008. The increase in fines is attributed to the fact that FINRA frequently has been more likely to impose fines of up to $1 million or more against larger firms.

The uptick in the amount of penalties imposed by FINRA is based on its increased focus on issues involving cybersecurity, anti-money laundering policies and protection of senior clients. This trend by FINRA to increase enforcement and fines most likely will continue in 2017.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

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Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.


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